NIG Prospectus - London Stock Exchange

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Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:18 pm – mac5 – 3776 Section 02 : 3776 Section 02STRUCTURE DIAGRAM AND CASHFLOWSSet out below is a simplified structure diagram and description of the principal cash flowsunderlying each Series of Trust Certificates issued. Potential investors are referred to the terms andconditions of the Trust Certificates and the detailed descriptions of the relevant TransactionDocuments set out elsewhere in this document for a fuller description of certain cash flows andfor an explanation of the meaning of certain capitalised terms used below.Structure DiagramMudarib(NIG)Master MudarabahAgreement andSupplementalMudarabah AgreementProceedsProfit AmountsObligor(NIG)Purchase andSale UndertakingDeedsExercise PriceNIG Sukuk LtdIssuer/TrusteeMaster TrustDeed andSupplementalTrust DeedProceedsPeriodic DistributionAmounts andDissolution AmountCertificateholdersCashflowsPayments by the Certificateholders and the IssuerOn the Issue Date of each Series of Trust Certificates, the relevant Certificateholders will pay theissue price in respect thereof to the Issuer and the Issuer will pay an equivalent amount to theMudarib pursuant to the Mudarabah Agreement. Such amount will constitute the capital of therelevant Mudarabah and the Mudarib will invest that capital in the business activities of NIG in16
Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:18 pm – mac5 – 3776 Section 02 : 3776 Section 02accordance with an agreed investment plan prepared by the Mudarib and scheduled to therelevant Supplemented Mudarabah Agreement.Periodic Payments by the MudaribOn each Periodic Distribution Date, the Mudarib will distribute the distributable profit generatedby the relevant Mudarabah to both NIG Sukuk Ltd and the Mudarib in accordance with the relevantpre-agreed profit-sharing percentages. NIG Sukuk Ltd will apply its share of the distributable profitgenerated by the relevant Mudarabah on each Periodic Distribution Date to pay the PeriodicDistribution Amount due to the Certificateholders by the Issuer under the Trust Certificates.Dissolution PaymentsOn the Maturity Date, NIG Sukuk Ltd will have the right to require the Obligor to purchase therelevant Mudarabah Assets and the price paid by the Obligor is intended to fund the DissolutionAmount payable by the Issuer under the Trust Certificates.The Trust may be dissolved prior to the Maturity Date for a number of reasons including (i) defaultor the imposition of Taxes or (ii) in certain cases where so specified in the applicable Final Terms,at the option of the Issuer. In any such case the Dissolution Amount will be funded by requiringthe Obligor to purchase the relevant Mudarabah Assets and pay the relevant price to or to theorder of the Issuer (pursuant to the terms of the Purchase Undertaking and the Sale Undertaking).17
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NIG Prospectus - London Stock Exchange

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